Extracted text: 6 Issue shares of commoh stock IN 3. May 4. June 5. September 15 Pay utilities of $7,000 from 2020 (prior year). 6. November 7. December 30 Pay salaries for the current year, $33,000. 24 Receive cash in advance from customers, $10,000. 30 Pay $3,000 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $8,000. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $10,000 paid in advance by customers, $7,000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,000. 11. Prepare a post-closing trial balance. PIPERS PLUMBING Post-Closing Trial Balance December 31, 2021 Debit Credit Accounts Cash Accounts Receivable Supplies
Extracted text: The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits Credits $ 4,500 9,500 3,500 36,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable $ 8,000 6,000 7,000 Deferred Revenue Common Stock 23,000 9,500 $53,500 Retained Earnings Totals $53,500 The following is a summary of the transactions for the year: 1. January 2. March 3. May 4. June 5. September 15 Pay utilities of $7,000 from 2020 (prior year). 6. November 7. December 24 Provide plumbing services for cash, $20,000, and on account, $65,000. 13 Collect on accounts receivable, $53,000. 6 Issue shares of common stock in exchange for $11,000 cash. 30 Pay salaries for the current year, $33,000. 24 Receive cash in advance from customers, $10,000. 30 Pay $3, 000 cash dividends to stockholders. The following information is available for the adjusting entries.